Tax plan math: how middle class and corporate tax cuts square with deficit reduction goals
Tax plan math: how middle class and corporate tax cuts square with deficit reduction goals
President Donald Trump wants the top U.S. corporate tax rate cut to 15 percent, as well as tax relief for middle-income Americans, he told the Wall Street Journal. The president also indicated a willingness to increase some taxes on rich Americans. But those cuts risk adding to the deficit over the next ten years. And economists said that even if wide-ranging individual and corporate tax cuts stimulate economic growth, GDP is unlikely to rise to the 3 percent level that the administration has forecast in its budget proposal.
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